An average of 1,273 homes gets sold in Colorado Springs each month. Yet, when hoping to sell a home in less than perfect condition, it can be hard to compete with the market. Especially when you want to ensure a quick and easy sale.
You may have inherited the home from a family member. Or bought the home with hopes to fix it up but plans have taken a sudden change. This can create issues with having the time or finances to manage needed repairs.
Yet, selling a home in its current condition follows a different type of process. Here are the correct pros and cons of selling a home as is.
DO Get an Inspection Before Listing the Home
A pre-listing inspection is one of the smart tips for selling your home in an as in condition. It’s a great idea to determine the actual condition of the home you’re planning to sell. This can be especially helpful if you have inherited the home or are a brand new owner.
With an inspection, you can get a full list of items that will need to get fixed. It’s best to discover these setbacks upfront rather than during the selling process. A full list of needed repairs will also help you determine a fair asking price when selling the home.
DON’T Be Dishonest About the Home’s Condition
When selling a house as is it’s always best to disclose all setbacks of the home and be as upfront as possible. Trying to hide any of the home’s conditions can get you in serious legal trouble down the road.
Setbacks that you should disclose include issues with the foundation. You also want to discuss electric or plumbing problems — as well as leaks, termite damage, and mold.
Make sure you communicate that you’re planning to sell the property “as is.” This should also get included in any listings. This will help you to attract the right buyers.
You also want to be honest and fair about the actual price of the home. Take the home’s condition, lot size, and location into consideration. Buyers can get turned off by an overpriced home that needs a decent amount of big repairs.
DO Present Repair Estimates to Potential Buyers
When selling a home as is, it’s helpful to take the guesswork out of repair costs. Gather a few different repair estimates for potential buyers to browse through.
This shows them the expected costs to fix needed items. It will also give them a better idea if the home is within their budget. Estimates can include work for roofing, plumbing, and structural issues.
Estimates from professionals state the facts and create less work for the buyer. This helps buyers to avoid making overestimated guesses on the cost of the home projects.
Be sure to compare a few different contractors to get the best price. This makes the buyer feel more confident in their decision.
DO Try and Make a Few Cosmetic Changes
Making small home improvements are smart tips for selling your house. These can be minor, affordable, and quick fixes that make a big difference in what the buyer sees.
Painting the home’s interior can change the full appearance of the property. You can also clean the carpets or update the lighting fixtures. Re-caulking a bathroom or patching up holes are other easy fixes.
You also don’t want to underestimate the impact of landscaping. As attractive landscaping can help you sell the home faster and boost its value.
Planting a few bushes can enhance the curb appeal of the home and attract buyers. It also helps to keep the lawn maintained and trim back hedges.
Other sellers choose to add a bit of home staging. You can do this using your own furniture or borrow it from friends and family.
If the home needs major repairs, you may have trouble finding an interested buyer. Yet, real estate investors will often buy houses in any condition. So, it’s a perfect alternative if you’re short on time, have limited funds, or live in a different location.
DON’T Forget to Be Flexible
When learning how to sell a house as is, it’s important to remain flexible. You should consider an asking price that is fair for both parties.
The buyer will likely have some big expenses coming out of their pocket after buying the home as is. So, be sure to take into account all the maintenance items they will be responsible for.
You also want to be open-minded about the different styles of buyers interested in your home. The home may appeal to buyers looking to pay cash. Or to house flippers and real estate investors.
These options work great when the home gets inherited from a deceased family member. Or if the homeowner is undergoing foreclosure or a sudden relocation.
The process of selling a home can be stressful. Yet, this can save you time, money, and energy in the long run.
DO Look into Market Trends in Your Area
It’s also smart to pay attention to market trends in the neighborhood you’re planning to sell the home in. This gives you a better idea of the average selling price. As well as the average amount of days homes stay on the market in your area.
An average home can take 68 days to sell. This includes from the time the home got listed to the actual closing date. This also fluctuates according to the area you live in and how hot the market is.
Homes that need little repairs will also sell quicker as they are more appealing to most buyers. So, if time if not on your side, you may want to consider the quick and easy option of a real estate investor. Here are a few more tips on selling your home fast.
So, Ready to Sell Your House as Is?
Certain situations in life may cause you to sell your house as is. It’s important to make the buyer well aware that they are getting the home in its current condition. So, be sure to disclose any home repairs and setbacks to avoid legal trouble.
A real estate investor is a quick and easy way to sell your home fast, without needing any repairs. This can save money in the long run and take the stress out of the home selling process. Learn moreabout how Bonnie Buys Houses Fast can handle your home sale in only a few days.
